Squid was trading at $ 0.012 on Tuesday and jumped to $ 9.19 on Friday.
the hype surrounding Squid keep going. According to Business Insider, the Netflix original series has now inspired a cryptocurrency called "Squid," which has taken off among merchants.
On Tuesday, the cryptocurrency was trading around $ 0.012, but as of Friday, it jumped to $ 9.19, creating an increase of more than 75,000%. The article notes that its fully diluted market capitalization is currently at around $ 722 million. Squid pre-sales began earlier this month, on October 20. His white paper reveals that the stock sold out in just one second.
Squid is what is called a "play to win" cryptocurrency, which means that holders play online games inspired by the show, such as Red Light, Green Light. Entry fees are charged on Squid, 10% goes back to the developers, and the rest is invested in the rewards pool.
"The more people who join, the bigger the reward pool," the white paper explains. “More importantly, we apparently do not provide deadly consequences! Your experience will only be reflected in the joy of winning rewards and regretting losing money when the game failed. "
Since it premiered on Netflix on September 17, Squid has taken over the internet, quickly becoming the streamer most successful original series to date. The series takes place in South Korea and follows a diverse and cash-strapped group of people who find themselves competing in rounds of children's games in hopes of taking home a huge prize that will pay off their debts.
Unfortunately, competitors quickly (and brutally) learn that if they miss the game, they risk being shot. During their first round, players saw hundreds of their friends being knocked down by a giant doll that you've probably seen on Twitter frequently.
TO second season of Squid It has yet to be confirmed, although Netflix top brass have confirmed that they would be more than happy to work with director Hwang Dong-hyuk again, if he has time in his busy schedule.
Would you exchange your money for Squid to participate in the virtual one? Squid? Let us know in the comments.
[Via]
